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Business News Digital
Spotify job ad sparks IPO plot speculation
By Chris Cooke | Published on Tuesday 18 February 2014
So when is Spotify going to float? When, I ask you. Quarter three? Spring 2015? Tomorrow? Tell me now, when is Spotify going to do its IPO? Tell me, tell me, tell me now.
Well, speculation is rife that an initial public offering is now very much on the agenda at Spotify HQ after it emerged that the digital music firm is recruiting an External Reporting Specialist to, amongst other things, “prepare the company for international financial standards”, something that might imply work is underway to position the company for a flotation in the relatively near future.
According to Reuters, the spec for that job also originally mentioned knowledge of America’s Securities & Exchange Commission, where papers for a US-based IPO would need to be filed, though it doesn’t anymore.
Most of the streaming music start-ups are expected to pursue IPOs or big-transaction sales at some point in the coming years, ensuring a big payday for founders, early investors and the music companies who secured equity as part of their initial licensing deals. Good times. Then, of course, the real challenge begins: how the fuck is anyone ever going to make any money out of streaming music?
